The "Mountaineer Flexible Tax Credit Act of 2026" is designed to promote economic development in West Virginia by providing targeted tax incentives to qualified businesses that make significant investments in the state. The bill establishes a new article in the West Virginia Code, detailing definitions, the application process for certification as a qualified entity, and the calculation of tax incentive awards. Key provisions include the requirement for businesses to create at least 10 new full-time jobs and to make a minimum qualified investment of $2.5 million. Eligible enterprises include those in manufacturing, distribution, research and development, and technology-intensive sectors. The act also emphasizes interagency cooperation and sets forth the jurisdiction and rule-making authority for implementing the tax credit program.

Additionally, the bill introduces comprehensive amendments to reporting requirements for businesses receiving tax incentives, mandating detailed annual reports that include information on job creation, employer wages, and health insurance coverage. The authority is empowered to conduct audits and request information to ensure compliance, with the ability to suspend or revoke incentives for non-compliance. The act clarifies that the tax credit will be available for investments made starting July 1, 2027, and includes provisions to maintain the integrity of the law in case of any invalidation of related statutes. Overall, the bill aims to enhance accountability and transparency while stimulating local investment and economic growth.